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Measures Taken by Physicians to Balance Quality and Finance

May 04, 2016

physician balance in finance

Continuous changes in healthcare compel physicians to devote more time to adhere to changes in order to avoid going into losses. Physicians are facing mounting challenges given the administrative requirements and lack of time for patient care. Time management has thus become a crucial issue for physicians across US. It is a fact that more number of practices are struggling to maintain financial stability.

With the Affordable Care Act, there is a huge influx of new patients, which is an added concern for physicians. The current demands of healthcare are already burdening the physician, wherein trying to strike a balance between offering quality care and sustaining a profitable practice is becoming the foremost challenge. More time spent on administrative tasks is said to lower job satisfaction for physicians.

Industry Facts

Medicare physician payments are set to increase 0.5% per year from 2016 through the end of 2018 under MACRA.
Only 55% of time is spent in face-to-face patient care.
Increasing number of physicians is outsourcing their administrative requirements, which is helping them focus on patient care.

Correct documentation and conveying the appropriate information to patients is vital in providing patient satisfaction. Technology plays an important role in streamlining a physician's tasks where otherwise, a large portion of the time is spent on paperwork. It is necessary to ensure physicians do not compromise on the quality of care they provide, owing to the endless paperwork required to maintain a steady cash flow.

It is understood by the physicians that longer visits allow better care which includes increased patient participation. Realizing the increasing demands of the healthcare industry and decreasing time with patients, physicians must lay down strategies to improvise the quality of care.

MBCs assistance in allowing physicians to continue providing quality care

Physicians have been neck deep in fulfilling their administrative tasks, hence losing out on time for their patients. MBC understands the need for physicians to fulfill their primary task at hand which is to provide care to their patients. MBCs team is adept at the billing and coding tasks and the many years of experience has given us leverage over most other billing companies.

The services offered by the company not only ensure more time for your patients but also increased revenue with minimized denials. MBC clients have reaped the benefits of the services, in form of maximized revenue and more time with patients.


Category : Practice Administration